Do We Have A Good Deal For Our First Seller Finance?

[Ed Walker]

Good afternoon BP family,

I have an owner finance deal that I am pursuing and would like the best course of action. Here is the deal:

Property has an ARV of $250,000

Purchase Price is $190,000

Rehab: $5,000-8,000 (for a lease option tenant)

Seller needs $30,000 at closing

Financing: 15 years at 0 %

Rental amount: $1,800

My payment (including T&I): $1,100

Suggests Please!

[Ed Walker]

Quote from @Chris Webb:

Have you considered a 50-40-10 with Velocity Mortgage? 50% 1st, 40% 2nd, and 10% down? I just got a blended rate in the 4's. 

 Hey Chris, I didn't know that was a product. I most definitely will keep that in mind. Thanks